Areté Collective, a development company, has sold a 58-acre site to developer Wasatch Premier Properties (WPP) to be utilized for multifamily housing within the downtown core of Thomas Ranch. The sale signifies the beginning of development beyond its Loraloma community within the budding master-planned community in Spicewood, Texas, 25 miles from downtown Austin.
Scheduled to be delivered in early 2026, plans for the site include nearly 100 townhomes and 500 apartments designed in collaboration with Dallas-based Hensley Lamkin Rachel Inc.
Apartment units will range from 650 to 1,400 square feet, including one-, two-, and three-bedroom options. Two- and three-bedroom townhomes will also be offered on the property and will range from 1,400 to 1,700 square feet. In addition to the array of community amenities at Thomas Ranch, the new complex will have a dog park, swimming pool, spa, clubhouse, yoga and fitness studio, and more. This project will be similar to other WPP communities in Utah, such as Soleil Lofts.
WPP’s investment in Thomas Ranch and its commitment to developing a high-quality, environmentally responsible, heavily amenitized multifamily community will advance the community’s vision to provide a variety of housing options throughout the development. In addition, it will generate a need for retail, restaurants and other service providers to service the growing west Austin community.
Upon completion, Thomas Ranch will include housing across all price points and types in distinct neighborhoods, with a downtown district offering more than 250,000 square feet of commercial real estate for retail, restaurants, service, and office space all within a 15-minute walkable district.
The master-planned community will also feature 40+ miles of trails, parks, and open spaces; two designated school sites; grocery stores; specialized healthcare offerings; a boutique resort hotel; and the private residential community, Loraloma, which includes an 18-hole golf course designed by David McLay-Kidd and its own exclusive suite of bespoke amenities. The golf course is currently under construction and slated for a full opening in spring 2025.
